Yahoo India is becoming a popular platform for the advertisers using online advertising to promote their brands. Claiming the largest online audience in India, Yahoo has roped in advertisers including Hitachi, Kellogs, Seagrams, Rasna, Royal Challenge, Colgate, Ford and Mastercard for its contest space.
Though the contest property on Yahoo India was launched more then a year back, it has become hot with the users and advertisers recently. The reason for this seems to be its cost effectiveness that attracts the advertisers. Bharat Mehta, the Vice President- Marketing at Pidilite Industries, which promoted its Fevicol brand on Yahoo contests says, "The deal offered by Yahoo for our 'Kya Idea Hai' contest was very attractive and reasonable. That's why we chose Yahoo over popular contest sites like contest2win.com and hungama.com."
As per sources in Yahoo, the cost of development of contests ranges from Rs.1 Lac to Rs.2.5 Lac depending on complexities and interactive elements involved.
Commenting on what makes it so popular, Deepak Chandnani, Yahoo's Country Head in India says, "Consumers love it because they want to grab a chance to win prizes. And corporates find it to be an effective involvement & data capture device. Since we have the largest online audience in India and the best targeting parameters, our clients get maximum mileage. "
But does it not pose a challenge to the survival of niche contest sites including contest2win.com and hungama.com as the online space is not wide enough to accommodate so many players in the same vertical? Not as per Alok Kejriwal, the CEO of contest2win.com, who claims to be the pioneer of 'Contesting on Internet' as a business model in 1998. "The more the merrier. Because if three passionate 'contesting' salesmen go to a brand manager, he believes that there is some 'potential' of the idea!" he says.